Mr. John Moran:

The parameter at which most people are looking in respect of distressed mortgages, as the Deputy referred to them, essentially is the inability of people to pay. In effect, they are placed in three different buckets by the Central Bank, which provides these statistics on this issue. Therefore, people who fall into arrears are in what is referred to as the zero to 90 day category. The second bucket refers to people who are in the greater than 90 day category, which in effect reflects an inability or unwillingness to repay the mortgage over a period of longer than three months, which suggests a growing and more serious problem. Third, there are people who have been in that position for longer than six months. These are the three buckets that people consider and that we therefore analyse, because we then get the statistics from the Central Bank for all three buckets on a consistent basis.

Sometime later this morning, the Central Bank will be releasing the latest statistics. It will probably happen while we are here, so we can come back to that.

Essentially, we are talking of somewhere in the region of 15% of the balance of mortgages in the greater than 90 day amount, and a little over 11% if one does it by number.